Brightshore Buys DŌMI Complex for $150 Million

Brightshore Capital acquired the 190-unit DŌMI multifamily complex in Long Island City, Queens, with $98.5 million in financing from Affinius Capital.

Updated on Nov. 2, 2026 in Commercial

Bold flat-color editorial illustration of two modular residential towers side by side in deep red and cream, evoking a multifamily apartment deal. — Brightshore Capital bought the 190-unit DŌMI complex in Long Island City, Queens, for $150 million, with $98.5 million in financing from Affinius Capital. AI Illustration. Upload story photo >

Brightshore Capital purchased DŌMI, a 190-unit mixed-income multifamily complex in Long Island City, Queens, for $150 million. The seller was a joint venture among SB Development, Hazelton Capital Group and Avenue Realty Capital, and Affinius Capital provided $98.5 million in acquisition financing.

Why it matters

The acquisition adds a newly constructed asset to Brightshore's Opportunity Zone portfolio while reducing entitlement and construction risks. For New York City renters, the deal brings a mix of market-rate and affordable apartments in a Queens neighborhood.

The 190-unit complex includes 133 market-rate and 57 affordable apartments plus nearly 4,900 square feet of retail space. The $150 million price was financed with $98.5 million from Affinius Capital, and the per-unit comparison to other Queens sales was not reported.

The players

Brightshore Capital

Brightshore Capital is an investment firm with $5.6 billion in total assets that runs Opportunity Zone funds.

Affinius Capital

Affinius Capital is a lender that provided $98.5 million in acquisition financing for the DŌMI purchase.

Newmark

Newmark is a commercial real estate brokerage whose team arranged both the sale and the financing for the DŌMI deal.

The details

DŌMI sits at 29-24 40th Avenue in the Dutch Kills neighborhood of Long Island City and includes two residential towers. The complex was financed using New York State's 421-a affordable housing tax abatement, a program that is now defunct, and the acquisition used investment capital from Brightshore's Opportunity Zone Fund II.

DŌMI opened in October 2026.
Brightshore's $150 million purchase of DŌMI was reported on November 2, 2026.

Market Context

DŌMI was financed through the 421-a affordable housing tax abatement, a New York State program that is now defunct, so the sale marks how projects built under that incentive are trading hands. The buyer's use of Opportunity Zone Fund II capital also links the deal to federal tax-incentive investment in lower-income areas.

For New York City renters, the deal keeps 57 affordable apartments in a mixed-income building, which may help keep those units available. Market-rate tenants in the same towers face ownership changes that could affect future lease terms.

The takeaway

Projects financed under expiring incentives like 421-a are changing hands, and renters in mixed-income buildings should watch how new owners handle affordable units and lease terms.